SpaceX stock up by 5% after falling below its opening price of $150

SpaceX stock rebounded late Tuesday night, having fallen below its historic initial listing price due to a sector-wide technology sell-off

On Tuesday, June 23, 2026, SpaceX (SPCX) shares recovered slightly, rising about 5% after a highly volatile morning session to settle around $156. The stock faced significant downside pressure immediately after the opening bell, briefly hitting an intraday low of $149. This temporary decline helped the space and artificial intelligence enterprise trade below its initial $150 Nasdaq public market debut price for the first time.

This afternoon recovery helped halt several days of painful declines that had wiped out vital profits for open-market public investors. Prior to Tuesday’s volatile trading session, the company had closed in the deep red for three consecutive sessions, including a massive 16.4% drop on Monday alone.

The recent decline has caused significant fluctuations in the rocket-maker’s overall valuation. At its peak on June 16, the stock reached an all-time high of $225.64, briefly giving the company a market capitalization of $2.94 trillion. This rapid rise briefly elevated SpaceX to the fourth-largest publicly traded corporation in the United States, ahead of both Amazon and Microsoft.

However, a subsequent correction wiped out nearly $1 trillion in market value, leaving the company’s valuation just below $2 trillion. Despite these significant fluctuations, SpaceX remains the world’s seventh-largest company by market capitalization, slightly ahead of Broadcom’s $1.8 trillion valuation. This sharp decline was exacerbated by a major macroeconomic sell-off in large technology equities on Wall Street.

This extreme volatility comes just a week after the company completed the largest initial public offering (IPO) in financial history. On June 12, the firm finalized its IPO pricing at $135 per share, and after underwriters fully exercised their additional allotment option, raised a previously unprecedented $85.7 billion. Demand for the listing was overwhelming, with institutional and retail investors placing orders for shares totaling over $350 billion.

Although the stock initially rose 67% from its original listing price in the first three days of its public life, analysts have noted a wide gap between the company’s valuation and its internal financial statements. According to regulatory S-1 filings, the firm remains highly unprofitable. The company posted a net loss of $4.9 billion for the full year of 2025, followed by an additional net loss of $4.28 billion during the first quarter of 2026.

Bullish investors are ignoring the current loss, instead choosing to bet heavily on the massive growth potential of the Starlink broadband satellite constellation and the company’s expanding AI initiatives. The listing has triggered a major shift in global wealth rankings, cementing CEO Elon Musk’s place as the world’s richest person, with a personal fortune exceeding $1 trillion. The company is scheduled to report its first official public quarterly earnings on September 2, 2026, which will provide the market with its next major fundamental health check.